We just posted about radio-related news recently, but what happened last week was so important for the online radio industry that we wanted to share it with you.
So, the news is that SoundExchange, the digital music fee collection agency owned by the RIAA (Recording Industry Association of America), and the “pureplay” webcasters announced that they reached royalty agreement until 2015. After a few long years of negotiations, it finally happened! Basically, this new deal involves a discount on the rates for large webcasters, and offers smaller webcasters percentage-based payment options. By the way, by “pureplay” we mean webcasters such as Digitally Imported and RadioIO, although companies such as Pandora Media, Inc. were also involved.
We’re bringing you this piece of news because this represents a very positive change in the industry moving forward, enabling small webcasters to stay in business and continue bringing you, the radio listener, the best music out there. And that’s a great reason to celebrate. : )
The Streema Team